Net value turnover reached P5.42 billion, reflecting continued caution while the peso strengthened slightly, closing at P59.97 from previously P60.035 per US dollar on earlier optimism about US – Iran peace talks, pushing oil prices lower over the past two weeks.
The Philippine Stock Exchange index (PSEi) rebounded on Monday, closing at 6,016.03 (+0.28 percent), as investors engaged in bargain hunting following last Friday’s decline. Gains, however, were trimmed in the afternoon after Iran announced that the Strait of Hormuz had been closed once again.
Net value turnover reached P5.42 billion, reflecting continued caution amid external uncertainties — particularly geopolitical developments involving the United States and Iran. Foreign investors remained net sellers, posting P446.83 million in outflows, underscoring lingering risk aversion.
Mixed performance
Sector performance was mixed. Holding firms led gains (+0.87 percent), while industrials declined (-0.34 percent), signaling uneven conviction across sectors. Market breadth was slightly negative, with decliners (105) edging out advancers (101). Among index names, Universal Robina Corp. (URC) led gainers (+2.46 percent to P62.50), while Monde Nissin (MONDE) was the biggest laggard (-2.18 percent to P6.74).
Peso slightly strengthens
Meanwhile, the peso closed at P59.97 per US dollar, strengthening slightly from P60.035 previously. Earlier optimism from US–Iran peace talks had pushed oil prices lower over the past two weeks.
However, Iran’s announcement of the renewed closure of the Strait of Hormuz drove oil prices higher by about 5 to 6 percent, reviving uncertainty and concerns over rising domestic inflation.
These inflation concerns have, in turn, fueled expectations that the Bangko Sentral ng Pilipinas (BSP) may tighten its policy stance at its upcoming Thursday meeting — supporting the peso but weighing on growth-sensitive equities.
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